Welcome to our dedicated page for Zomedica news (Ticker: ZOM), a resource for investors and traders seeking the latest updates and insights on Zomedica stock.
Zomedica Corp. (NYSE American: ZOM) is a veterinary health company based in Ann Arbor, Michigan, focused on creating innovative products for companion animals, including dogs, cats, and horses. The company addresses the unmet needs of clinical veterinarians through its diverse product portfolio that includes diagnostic and therapeutic devices aimed at enhancing both patient and practice health.
Core Business:
Zomedica specializes in the development and commercialization of veterinary diagnostic tools and pharmaceutical products. Their flagship product, the TRUFORMA® platform, uses Bulk Acoustic Wave (BAW) technology to offer highly sensitive and accurate point-of-care diagnostics for thyroid and adrenal disorders in dogs and cats. The TRUFORMA system empowers veterinarians to make timely and precise diagnostic decisions directly within their clinics, eliminating the delays associated with sending samples to external laboratories.
Recent Achievements:
Recently, Zomedica has expanded its intellectual property portfolio to include 188 patents and 131 trademarks, offering robust protection for its innovative products. This portfolio includes newly issued patents that enhance the TRUFORMA system's capability to detect a wider array of health conditions.
Current Projects:
The company is working on expanding its product range and market reach. The recent CE certification for the VetGuardian® remote contactless monitoring system paves the way for Zomedica's expansion into the European veterinary market. Additionally, the company has launched an improved canine cortisol assay and Over-the-Air (OTA) software update capabilities for the TRUFORMA platform, making it easier for veterinarians to access the latest diagnostic tools and features.
Financial Condition:
For the first quarter of 2024, Zomedica reported a 14% increase in revenue to $6.3 million, driven by growth in both its diagnostic and therapeutic segments. The company's gross margin stood at 66%, and it holds $90.9 million in cash and available-for-sale securities as of March 31, 2024.
Market Position:
With an estimated total addressable market of $2.5 billion annually for its diagnostic and therapeutic products, Zomedica is well-positioned to capture significant market share. The company's potential customer base includes approximately 4,450 equine or mixed veterinary practices and 30,000 small animal veterinary practices in the United States alone.
Partnerships and Collaborations:
Zomedica collaborates with veterinary researchers to advance animal healthcare through continuous innovation. The company's recent expansion of its global manufacturing and distribution facilities in Roswell, Georgia, aims to support the growing demand for its products.
For more information, visit www.zomedica.com
Zomedica Corp. (NYSE American: ZOM) has appointed Dr. Pamela Nichols, a seasoned veterinarian and past president of the American Animal Hospital Association, to its Board of Directors.
Dr. Nichols brings extensive expertise, having founded six veterinary hospitals. Her role emphasizes enhancing Zomedica's strategic initiatives and solutions for veterinary practitioners. CEO Larry Heaton noted her insights will aid in developing innovative technologies for better veterinary care.
This leadership change aims to bolster Zomedica’s mission of improving the quality of care for companion animals.
Zomedica Corp. (NYSE American: ZOM) reported second quarter 2022 financial results with revenue reaching $4.2 million, a significant increase of 51% compared to the same period last year. This surge was largely attributed to the acquisition of PulseVet which contributed $4.2 million in revenue. Gross margin stood at 71%. Despite the revenue growth, Zomedica reported a net loss of $5.3 million, increasing losses by 14%. The company ended the quarter with $186.8 million in cash and equivalents.
Zomedica Corp. (ZOM) announced the acquisition of substantially all assets from Assisi Animal Health LLC, enhancing its portfolio of veterinary health products. Assisi specializes in targeted Pulsed Electromagnetic Field (tPEMF™) devices, which provide drug-free treatments for pain and anxiety in pets. The acquisition is expected to synergize with Zomedica's existing offerings, particularly in therapeutic solutions. Assisi’s products are backed by extensive clinical research, having reportedly helped over 100,000 pets. This strategic move aims to improve pet care while boosting Zomedica's market presence.
Zomedica Corp. (NYSE American: ZOM) announced the expansion of its manufacturing and distribution facility in Roswell, Georgia, on July 7, 2022. The new 12,400 sq. ft. center is part of a larger 61,500 sq. ft. building aimed at increasing production capacity and improving distribution efficiency for its growing product portfolio, including PulseVet, TRUFORMA, Revo2, and VetGuardian. Construction is expected to be completed by August 2022. This expansion underlines Zomedica's commitment to meet rising global demand and enhance operational capabilities.
Zomedica Corp. (NYSE American: ZOM) has successfully completed the acquisition of Revo Squared LLC, integrating its innovative MicroView digital cytology platform. This platform enhances diagnostic accuracy for veterinarians by automating slide preparation, significantly reducing errors. The manufacturing and distribution will shift to Zomedica's expanded facility in Roswell, Georgia, which is expected to optimize production capabilities. The launch of MicroView into the veterinary market is anticipated in 2023.
Zomedica Corp. (NYSE American: ZOM) has been appointed as the Official Shock Wave Therapy Supplier for the United States Equestrian Team Veterinarians through its PulseVet division. PulseVet specializes in electro-hydraulic shock wave technology, aimed at treating various conditions in veterinary patients. The USEF highlighted the partnership's commitment to enhancing horse welfare. The PulseVet system is clinically proven for treating muscle injuries, osteoarthritis, and more. This collaboration emphasizes Zomedica’s role in veterinary health and aligns with its mission to support animal wellness.
Zomedica Corp. (NYSE American: ZOM) announced its participation in the Animal Health, Nutrition & Technology Innovation USA event in Boston from June 21-23, 2022. Greg Blair, Vice President of Business Development, will discuss how Zomedica's innovative products and technologies are assisting veterinarians in adapting to post-COVID challenges. This forum offers insights into emerging trends in animal health and provides networking opportunities with industry executives. Zomedica focuses on creating diagnostic and therapeutic products for companion animals.
Zomedica Corp. (NYSE American: ZOM) has announced a definitive agreement to acquire substantially all assets of Revo Squared LLC. This acquisition includes Revo's MicroView digital cytology platform, which enhances veterinary diagnostic capabilities by automating slide preparation, thus reducing human error. The transaction aims to improve efficiency within veterinary practices and is expected to close within 30 days. Executives from Revo will join Zomedica to facilitate integration and manufacturing, expanding Zomedica's product offerings for companion animal care.
Zomedica Corp. (NYSE American: ZOM) has commenced a study to evaluate shock wave therapy for treating Exercise Induced Pulmonary Hemorrhage (EIPH) in horses. Conducted by Dr. Beau Whitaker, the study currently involves eight horses and aims to assess bleeding episodes and performance improvements in barrel racing horses before and after therapy. As EIPH is common in performance horses and current treatments are limited, this research could offer a significant breakthrough in veterinary care. Zomedica's PulseVet technology is a leader in shock wave therapy, enhancing recovery for various conditions.
Zomedica Corp. (NYSE American: ZOM) announced that CEO Larry Heaton will present at the JMP Securities Life Sciences Conference on June 15, 2022, at 12:30 pm ET. The presentation will provide a corporate overview and update on the company’s initiatives in veterinary health, particularly focused on diagnostics and therapeutic products for companion animals. Interested parties can access the live webcast here and find more details on Zomedica's website.
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